Stocks End Losing Streak and Close Higher Led by Strong Earning

by TheStreet
0:58 mins

After wavering between positive and negative grounds, investors finally decided to end the losing streak. Major U.S. Markets bounced back after Portugal announced a bailout to save its biggest bank, Banco Espirito Santo. Earnings news also helped to push stocks higher. Warren Buffett's Berkshire Hathaway's A shares (BRK.A) gained 2.66 percent. AutoNation (AN) also got a nice pop after posting its best July sales numbers in eight years. But shares of Michael Kors (KORS) slipped despite reporting good earnings. Investors didn't like what the CEO had to say on profitability declining this year. Economic Report out Tuesday include the ISM Manufacturing and Factory orders. On the earnings front, companies set to report include Disney (DIS), CVS Caremark (CVS) and Time Inc. (TIME).